Bangchak Corp Announces a Purchasing Price for ESSO Thailand at THB9.18

Bangchak Corporation Public Company Limited (SET: BCP) has announced the adjustment purchasing price for Esso (Thailand) Public Company Limited at THB 9.18 per share, totaling THB 20,956 million.

Earlier this year when BCP announced its intention to acquire ESSO, BCP expected the purchasing value of the sale shares would be in a range of THB 8.84 or THB 9.63 per share, making the total value of approximately THB 20,198 million or THB 21,982 million.

The adjustment of the purchasing price came after calculating the inventories of ESSO and the additional dividend payment announcement for the operating results for the fiscal year 2022 on 13 March 2023.

Meanwhile, Krungthai X Spring Securities, as an Independent Financial Advisor of BCP, considered the purchasing price at THB 9.18 per share is appropriate since it is within the range of ESSO’s fair price of THB8.13 – 12.36 per share.